Interim Trading Statement 2017

Another solid performance

For the 6 months to 30th June 2017, Langley Holdings plc, the diverse engineering and industrial group, reported a profit before tax of €45.7 million on revenues of €422.6 million.

In his half year review of the business, the group's chairman, Tony Langley, says that the result "...was in line with expectations and on the whole, satisfactory." and that he is anticipating a full year profit before tax of €116 million on revenues of €967 million.

Langley commented that all five of the group's operating divisions performed as expected and that the recent acquisition of Active Power, the Texas kinetic energy storage device specialist, had integrated smoothly into the Piller organisation in the period and was already contributing positively to the division's result.

The group closed the half year with orders on hand of €315 million, net assets of €606 million, €297 million cash and no debt.

Langley Holdings plc is a diverse, privately owned engineering and industrial group based in the UK with principal operating divisions located in Germany and France and more than 80 subsidiaries worldwide. The group's companies produce equipment ranging from electrical systems for data centres, machinery for cement and steel plants to food packaging lines, automotive welding equipment and printing presses.

The group was founded in 1975 by the current chairman, Tony Langley, and currently employs around 4,300 people worldwide.